Jobless Claims, Housing Data: What to Watch on Wall Street for Wednesday, Dec. 31

As we wrap up 2014, here's what Wall Street will be watching Wednesday, the final trading day of the year.
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As we wrap up 2014, here's what Wall Street will be watching Wednesday, the final trading day of the year: First, weekly jobless claims for the week ending December 27th will be released at 8:30am Eastern. Analysts say jobless claims will reach 286,000, compared 280,000 during the prior week. The Chicago PMI is out at 9:45am from the Institute for Supply Management. Analysts expect the reading to remain at 60.8%. Next, at 10am, the National Association of Realtors releases its pending home sales index for November, which tracks homes under contract. Analysts forecast at 0.5% rise in the index. TheStreet's Scott Gamm has details from New York.